by Turd Ferguson, TF Metals Report:
A few moments ago on Fox Business Channel we heard someone proclaim that “given all that’s going on the world, gold should probably be $5,000 to $6,000 per ounce”. Who actually had the gall to say this on live television? You won’t believe it unless you see it for yourself.
So, here you go. This is Neil Cavuto discussing the “markets” with Terry Duffy, the one and only CEO of the CME Group. The first five minutes are the standard boilerplate of Fed policy, etc and blahblahblah. However, at the 4:55 mark, Cavuto asks:
“But we haven’t seen money move into the metals….what is going on there?”
To which Duffy answers:…….
Well, you’re going to have to hear it for yourself to believe it. Again, fast forward to the 4:55 mark and have a listen.
And so we have a fun discussion point for this thread. Namely, WHY would the CEO of the CME state this on live TV?? Is it because he now expects much higher metals prices in the months ahead and he wants to front-run them with his “analysis”? Is he tipping off The Banks that their games are almost over? Does he know about the “reset” that Andrew Maguire has been referencing? Is he just simply clueless as to WHY price is only $1220? (This I highly doubt.)
So, again, what explains this sudden bit of candor from the CME? If anything, you might want to bookmark this thread for future reference. If indeed the physical market is soon to take over as Andrew Maguire suggests and if indeed price is about to reset multiples higher, it might be fun to refer back to this day when the CEO of the CME openly suggested that “with all that’s going on in the world, it (gold) should probably be at $5,000 to $6,000 per ounce.“